France’s Renewable Energy Programs to Receive almost $2 Billion in Investments and Support

$1.75 billion have been appointed by the French government to a locally-established program that aims to significantly boost the nation’s renewable energy technology, as well as finance bio-fuel research.

The massive fund is the first in a line of many future investments in the emerging green energy market for the country. In the coming years, France is planning on furthering both its standing technologies, and investing into the research and field work necessary to produce new ones, as European nations rally for the leading places in the renewable energy race.

The field known as green chemistry in France has already had over 450 million euros sunk into it in various subsidies, and over 900 million euros donated in the form of public and private investments and loans. Solar, wind, bio-thermal and carbon-centric fuels will all be delved into as viable alternatives for both France and the world, as the global recession still persists, making conventional fuels far too costly.

The country already has a well-established and high-producing onshore wind and nuclear energy industries, and its incline towards focusing on lower cost, emission-less fuel technologies is only furthered by the sprawling developmental plans that it has in store.

Commercial development is the primary focus of the fund, as well as pushing already existing research techniques to new limits. 190 million euros have been allotted to the green programs in the nations for this year alone, and 290 million euros will subsequently be parcelled out for every one of the coming 4 years.

2 billion more euros are also expected to be drawn from private companies, both local and international-based, in the French push to get foreign investors interested in its green programs. Both sustainable public and private transportation and better smart grid plans are also essential parts of the ambitious and environmentally-conscious program. The country’s future goals in drastically reducing its carbon emissions and improving its green energy output will also be affected in a crucial way.

The program’s establishment arrives just as France gears up to introduce a second law into its environmental agenda, that will aim at enhancing the nation’s agricultural and waste management niches.